Full Cost Breakdown — 78701 (Austin, TX)
What Salary Do You Need to Buy in 78701?
Using the standard 28% gross income housing rule, you need approximately $200,426/year to comfortably afford the median home in Austin, TX with 20% down at today's 7.1% rate.
The average household income in Travis County is approximately $88,000/year — which means buying the median home here is difficult for the average family.
Property Tax in 78701 (Travis County)
Travis County has a property tax rate of approximately 2.1% — above the national average of 1.1%. On a $620,000 home, this equals $1,085/month or $13,020/year in property taxes.
Property taxes can often be appealed if your assessment seems high. Ownwell specializes in property tax appeals — they only charge if they save you money.
Will a Bank Approve You in Austin?
Approval depends on your specific profile — credit score, income, existing debts, and down payment. The Bank Rejection Engine shows exactly how 5 different lender types would score your application for a home in 78701.